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In a report published Monday, Gilford Securities downgraded its rating on Medley Capital Corp. (NYSE: MCC [FREE Stock Trend Analysis]) from Buy to Hold, and reiterated its $14.30 price target.
Gilford Securities noted, “We have often discussed the valuation gap between Medley and the associated peer group. A strong part of the basis for our recommendation has been that Medley would narrow or eliminate that valuation gap. This is indeed what has occurred. Now Medley is trading at a clear premium valuation to the rest of the group.